Kenya to raise stake in African guarantee platform for Sh5.2bn

William Ruto

President William Ruto has accused lawmakers of “overstepping” their mandate by sustaining a freeze on new power purchase agreements.

Photo credit: Pool

Kenya will inject an extra $40 million (Sh5.2 billion) into the African Trade and Investment Development Insurance (ATIDI), more than doubling its stake in the quest for greater influence in mobilising billions of shillings for critical projects.

The additional investment will raise Kenya's capital subscription in the African guarantee platform from $25 million (Sh3.2 billion) to $65 million (Sh8.4 billion), President William Ruto announced on Tuesday.

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